Covestro AG (1COV.DE)

51.62 -0.28 (-0.54%) As of 02:53PM CEST. Market open.

Covestro AG

Kaiser-Wilhelm-Allee 60
Leverkusen 51373
Germany
49 214 6009 2000
https://www.covestro.com

Sector(s): Basic Materials
Industry: Specialty Chemicals
Full-time employees: 17,591

Key executives

Name	Title	Pay	Exercised	Year born
Dr. Markus Steilemann	CEO & Chairman of Management Board	2.85M	N/A	1970
Dr. Thomas Toepfer	CFO, Labor Director & Member of Management Board	1.8M	N/A	1972
Ms. Sucheta Govil	Chief Commercial Officer & Member of Management Board	1.48M	N/A	1963
Dr. Thorsten Dreier	CTO & Member of Management Board	N/A	N/A	N/A
Mr. Ronald Koehler	Head of Investor Relations	N/A	N/A	N/A
Mr. Daniel Meyer	Head of Polyurethanes (PU) Segment	N/A	N/A	1967
Mr. Uwe Arndt	Head of MDI Site	N/A	N/A	N/A
Nils Janus	Head of Advanced Analytics	N/A	N/A	N/A
Mr. Rainer Rettig	Head of the Circular Economy Program	N/A	N/A	1959

Amounts are as of 31 December 2022, and compensation values are for the last fiscal year ending on that date. Pay includes salary, bonuses, etc. Exercised is the value of options exercised during the fiscal year. Currency in EUR.

Description

Covestro AG supplies high-tech polymer materials and related application solutions. It operates in two segments, Performance Materials, and Solutions & Specialties. The Performance Materials segment develops, produces, and supplies high-performance materials, such as polyurethanes and polycarbonates, and base chemicals, which include diphenylmethane diisocyanate (MDI), toluylene diisocyanate, long-chain polyols, and polycarbonate resins for use in furniture and wood processing, construction, automotive, and transportation industries, as well as roof structures, insulation for buildings and refrigerators, mattresses, car seats, and other applications. The Solutions & Specialties segment comprises a range of polymer products, including polycarbonates, precursors for coatings and adhesives, MDI specialties and polyols, thermoplastic polyurethanes, specialty films, and elastomers that are used in automotive and transportation, electrical, electronics and household appliances, construction, and healthcare industries, as well as composite resins for wind turbine rotor blades, laptop cases, and floodlights. The company markets its products through trading houses and distributors. It operates in Europe, the Middle East, Africa, Latin America, the United States, Canada, and the People's Republic of China. The company was founded in 1863 and is headquartered in Leverkusen, Germany.

Corporate governance

Covestro AG’s ISS governance QualityScore as of 1 September 2023 is 2. The pillar scores are Audit: 7; Board: 3; Shareholder rights: 1; Compensation: 2.

Corporate governance scores courtesy of Institutional Shareholder Services (ISS). Scores indicate decile rank relative to index or region. A decile score of 1 indicates lower governance risk, while 10 indicates higher governance risk.